Worth Watching: Could Allscripts Healthcare Solutions Inc See a Reversal After Breaking Its Yearly Low?

Worth Watching: Could Allscripts Healthcare Solutions Inc See a Reversal After Breaking Its Yearly Low?

The stock of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) hit a new 52-week low and has $9.92 target or 5.00% below today’s $10.44 share price. The 8 months bearish chart indicates high risk for the $1.95 billion company. The 1-year low was reported on Nov, 4 by Barchart.com. If the $9.92 price target is reached, the company will be worth $97.50M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.28M shares traded hands or 133.88% up from the average. Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) has declined 14.85% since April 4, 2016 and is downtrending. It has underperformed by 15.94% the S&P500.

Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) Ratings Coverage

Out of 16 analysts covering Allscripts-Misys Healthcare (NASDAQ:MDRX), 10 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 63% are positive. Allscripts-Misys Healthcare has been the topic of 25 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) earned “Overweight” rating by JP Morgan on Tuesday, November 17. As per Wednesday, August 5, the company rating was maintained by RBC Capital Markets. The firm has “Hold” rating given on Tuesday, January 5 by Topeka Capital Markets. On Friday, October 28 the stock rating was reinitiated by JP Morgan with “Overweight”. Citigroup maintained the stock with “Neutral” rating in Friday, May 13 report. The company was reinitiated on Friday, October 16 by Jefferies. As per Thursday, October 6, the company rating was initiated by UBS. Leerink Swann upgraded the shares of MDRX in a report on Tuesday, August 23 to “Outperform” rating. The firm earned “Outperform” rating on Friday, February 19 by RBC Capital Markets. Canaccord Genuity initiated Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) on Wednesday, September 16 with “Buy” rating.

According to Zacks Investment Research, “Allscripts Healthcare Solutions, Inc. offers clinical software, services, information and connectivity solutions that enable physicians and healthcare providers to deliver patients safety and clinical outcomes in the US. The Company provides intuitive clinical and business solutions including Electronic Health Records, practice management, revenue cycle management, document management, electronic prescribing, clinical trials and services for small to mid-sized practices. It also provides advanced clinical and business solutions including Electronic Health Records, practice management, revenue cycle management, document management, electronic prescribing, clinical trials and optimization services for large physician practices, academic medical centers and hospitals. In addition, the Company’s Health Systems Group has Emergency Department and care management systems for hospitals, as well as homecare and referral management solutions for post-acute providers. Allscripts is headquartered in Chicago, Illinois.”

Insitutional Activity: The institutional sentiment decreased to 1.25 in 2016 Q2. Its down 0.13, from 1.38 in 2016Q1. The ratio is negative, as 27 funds sold all Allscripts Healthcare Solutions Inc shares owned while 64 reduced positions. 25 funds bought stakes while 89 increased positions. They now own 185.59 million shares or 2.43% less from 190.21 million shares in 2016Q1.
Alliancebernstein Lp has invested 0% of its portfolio in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX). State Of Wisconsin Inv Board has 0.01% invested in the company for 121,582 shares. D E Shaw & Communications has invested 0.05% of its portfolio in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX). Citigroup Incorporated reported 972,963 shares or 0.01% of all its holdings. State Street last reported 4.80 million shares in the company. Adirondack Rech And Mgmt has invested 1.72% of its portfolio in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX). Atwood And Palmer Incorporated reported 1,925 shares or 0% of all its holdings. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Management accumulated 63,200 shares or 0.01% of the stock. Comerica Retail Bank accumulated 131,067 shares or 0.02% of the stock. The Connecticut-based Tudor Investment Et Al has invested 0.01% in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX). Cipher Capital Lp holds 264,435 shares or 0.24% of its portfolio. Moreover, Capstone Asset has 0.01% invested in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) for 16,387 shares. Dimensional Fund Advsrs Ltd Partnership reported 5.50M shares or 0.04% of all its holdings. Profund Advsrs Ltd Liability Corporation has invested 0.06% of its portfolio in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX). Tcw Gru accumulated 20,840 shares or 0% of the stock.

Insider Transactions: Since June 13, 2016, the stock had 0 insider buys, and 7 sales for $1.20 million net activity. HEWITT JAMES also sold $227,500 worth of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) on Thursday, September 15. Poulton Richard J. had sold 10,000 shares worth $130,300 on Monday, June 13. The insider Black Paul sold $195,600. $98,000 worth of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) was sold by Olis Dennis on Monday, July 11.

More news for Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) were recently published by: Wsj.com, which released: “Allscripts Healthcare Results Miss Expectations” on November 03, 2016. Nasdaq.com‘s article titled: “Allscripts Healthcare Solutions Inc. Announces 6% Gain In Q3 Earnings” and published on November 03, 2016 is yet another important article.

MDRX Company Profile

Allscripts Healthcare Solutions, Inc., incorporated on July 11, 2000, delivers information technology (IT) and services to help healthcare organizations in clinical, financial and operational results. The Firm operates through two divisions: Clinical and Financial Solutions, and Population Health. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions, which primarily include electronic health record (EHR)-related software, financial and practice management software, related installation, support and maintenance, outsourcing, hosting, revenue cycle management, training and electronic claims administration services. The Company’s Population Health segment includes the sale of health management and coordinated care solutions, which are mainly focused on hospitals, health systems, other care facilities and accountable care organizations (ACOs). These solutions enable clients to connect, transition, analyze, and coordinate care across the care community.

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